Downtown Fort Lauderdale building sells for $15M
Miami architect Rene Gonzalez A 23,620-square-foot office/restaurant building on the south side of the New River in downtown Fort Lauderdale has a new owner. The building at 400-408 S. Andrews Ave. sold for $15 million. The sellers were Gazarian Group LLC, managed by Krikor Gazarian in Miami; and Lineaire Group 10 New River LLC, managed by George Samarjian of Miami-based Lineaire Group. The companies owned 85.4% and 14.6% of the property, respectively.  The buyer was 400 S. Andrews Avenue LLC, in care of Shelby Smith, a senior property manager at Fort Lauderdale-based Berger Commercial Realty, and managed by Moshe Oppenheim in Miami.   The price equated to $635 per square foot. That is well above what Class A office towers typically sell for in Fort Lauderdale, and this is a comparably less expensive Class B building. However, that valuation could reflect potential redevelopment. It last traded for $5.75 million in 2017, so the property gained in value as more development projects have sprung up downtown. The building was constructed on the 22,064-square-foot site in 1975. While its address is on South Andrews Avenue, its direct access is not from that street because the building is so close to the bridge over the river. Instead, its parking lots can be accessed from Southeast First Avenue. The restaurant tenant is the DownTowner seafood restaurant. The majority of the building is office space. Smith couldn’t be reached for comment. Sign up here for the Business Journal’s free morning and afternoon daily newsletters to receive the latest business news impacting South Florida.Â
Miami architect Rene Gonzalez shares his vision for Surfside’s luxe Surf Row Residences
Miami architect Rene Gonzalez shares his vision for Surfside’s luxe Surf Row Residences Architect Rene Gonzalez has built his reputation designing environmentally-responsive buildings, creating some of Miami’s most distinctive and future-proof residences since founding his award-winning eponymous practice in 1997. The Miami native understands better than most the challenges facing South Florida, and his upcoming project Surf Row Residencies harnesses his experience building on the shorefront while expressing a site-specific architectural language for the uptown beach community, Surfside. The Surf Row Residences is a development of eight bespoke beachfront homes spearheaded by the Linéaire Group in partnership with ONE Sotheby’s International and designed by Gonzalez. The oceanfront community puts a contemporary twist on the brownstone tradition in its airy constellation of two and three-storey properties, which range from 3,500-5,600 sq ft. Miami architect Rene Gonzalez shares his vision for Surfside’s luxe Surf Row Residences April 14, 2024/No Comments Miami architect Rene Gonzalez shares his vision for Surfside’s luxe Surf Row Residences Miami architect Rene Gonzalez shares his vision… Read More Miced-use, multifamily project in Wynwood -Wynwood Haus- announces completion April 13, 2024/No Comments Miami architect Rene Gonzalez MIAMI – Wynwood Miami has evolved into one of the city’s most happening districts, brimming with energy… Read More Miami architect Rene Gonzalez April 13, 2024/No Comments Miami architect Rene Gonzalez Architect Rene Gonzalez has built his reputation designing environmentally-responsive buildings, creating some of Miami’s most distinctive… Read More